Upper middle income economy graph showing purchasing power parity (PPP) growth from 2000 to today. Purchasing power parity adjusts the size of the economy to relevant price levels, i.e. measuring the price of specific goods in different countries and adjusting GDP accordingly.
Upper-middle-income countries had an average GDP per capita (PPP) of around $12,000$15,000 in 2023. These economies are typically industrializing, with key sectors in manufacturing, mining, and services.